China and Korea share in Trafigura Tanker Haul

Details of trader Trafigura’s bold move to acquire up to 32 tankers worth an estimated $1.35bn have started to emerge.

As TradeWinds went to press, newbuilding sources said New Times Shipbuilding of China and South Korea’s Hyundai Mipo Dockyard (HMD) had sealed contracts from China’s Bank of Communications Financial Leasing (BoCom FL) against bareboat charters to the trading giant.

The orders total 22 ships, plus options for another 10 vessels.

As TradeWinds reported last month, the firm vessels are believed to comprise eight suezmaxes, four long-range-two (LR2) tankers and 10 products carriers.

Trafigura is understood to have purchase options.

The trader plans to use the ships both for its own cargo requirements and to charter them out.

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